Buy Pricey Kansas City Home OR Move To Slightly Less Expensive Olathe?!?

This time around the newspaper is pushing the struggling real estate market. 

To be fair . . . The housing market has been treacherous since 2008 and NOBODY really understands where its headed. 

However . . . A bit of skepticism about economic advice coming from a dying newspaper is fair.

Here's their story that uses desperate real estate info in order to hype demand . . .

Even if there is a significant softening in demand due to higher mortgage rates, the report says, it would take a long time to return to a balanced housing market in Kansas City. There were less than half as many homes available for sale at the beginning of 2020 than there were in 2011.

Kansas City has been in a sellers’ market since at least 2015, the report says, with big price increases building for years. In August, the average sales price for homes in the region increased to $324,745, according to the Kansas City Regional Association of Realtors. That figure was up 10% over the average price of $295,125 recorded in August of last year. The average sales price has increased more than $100,000 over the last five years: the association reported an average price of just $214,272 in 2017.

Read more via link . . .

Want to buy a house in Kansas City? Why local real estate market defies trends elsewhere

Home prices are expected to keep rising in the Kansas City area, despite a difficult economy and higher mortgage interest rates that have cooled the market. Kansas City metro area home values are expected to end the year up 13.8%, according to a new report from the Wichita State University Center for Real Estate.

Related reading . . .

One Johnson County city lands on Best Places to Live for Families list

by: Kansas City Business Journal Posted: Updated: Olathe is the third-best place in the United States for families to live, according to a Fortune report. The ranking highlights areas in the U.S. where multigenerational families are most likely to have access to critical resources, community support and financial well-being, according to a release from Fortune.

You decide . .